Arch Biopartners Inc. has announced that it is receiving advisory services and up to $4,000,000 in funding from the National Research Council of Canada Industrial Research Assistance Program to support the research and development of the LSALT peptide program. LSALT peptide is the company’s lead drug candidate for treating acute inflammation injury in the lungs, kidneys, and liver. The funding will help support several sub-tasks needed to advance the LSALT peptide drug program, including dose escalation studies, manufacturing new drug product supply, non-clinical studies to discover potential biomarkers, and more. The project funding will enable Arch to complete several important drug development tasks in the next twelve months.
Arch Biopartners Inc., (“Arch” or the “Company”) (TSX Venture: ARCH and OTCQB: ACHFF), a clinical stage company focused on the development of novel therapeutics targeting organ inflammation, announced that Arch is receiving advisory services and up to $4,000,000 in funding from the National Research Council of Canada Industrial Research Assistance Program (“NRC IRAP”) to support the research and development of the LSALT peptide (Metablok) program. LSALT peptide is the Company’s lead drug candidate for treating acute inflammation injury in the lungs, kidneys and liver.
The research and development funding from NRC IRAP will help support several sub-tasks needed to advance the LSALT peptide drug program. These include: dose escalation studies; costs incurred by Arch during the Canadian Treatments for COVID-19 Phase III human trial; manufacturing new drug product supply to support future non-COVID human trials; the non-COVID Phase II trials (such as a cardiac surgery associated acute kidney injury trial) to gather more human data to support future drug approval; and, additional non-clinical studies to discover potential biomarkers and to further understand the mechanism of action related to LSALT peptide.
Quote from Richard Muruve, CEO of Arch Biopartners:
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“We appreciate this support from NRC IRAP as we continue to develop LSALT Peptide as a treatment for inflammation injury in the lungs, kidneys and liver. This project funding will enable Arch to complete several important drug development tasks in the next twelve months.”
The term of the Project extends to March 31, 2024.
Source: BioSpace
